Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2017 (11) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (11) TMI 1544 - ITAT DELHIPenalty u/s 271(1)(c) - difference of opinion as to a particular expenditure being revenue in nature or capital - Held that:- It is not a case that the assessee had not been able to explain any expenditure or had failed to give any details and the Assessing Officer had added the same to the income. It is only a case where there is a difference of opinion as to a particular expenditure being revenue in nature or capital in nature. It is evident from the records that the assessee had given all particulars of expenditure and income and had disclosed all facts to the Assessing Officer. It is not the case where some new facts were discovered during the course of assessment proceedings or that the Assessing Officer had dug out some information which was not furnished by the assessee. Apex Court in the case of Commissioner of Income Tax vs Reliance Petroproducts Pvt. Ltd. (2010 (3) TMI 80 - SUPREME COURT ) has also held that mere making of claim which is unsustainable in law, by itself, will not amount to furnishing of inaccurate particulars regarding the income of the assessee - Decided in favour of assessee.
|